This practitioner paper aims to question basic assumptions about management education and to argue that a new paradigm is needed for UK business schools which embraces an oft neglected, yet economically vital, stakeholder group, namely family businesses. It seeks to pose the question of why we have forgotten to teach about family business management in the management portfolio.
The paper adopts a stakeholder approach, building on nominal stakeholder theory to justify a change to the teaching paradigm in business schools. It builds on discussions in the extant literature about failures of business schools to address modern needs.
The authors find that business schools in the UK need to begin to engage with family businesses through embracing the next generation from families in business. Policy needs to be developed that will support the next generation in a positive way by teaching about the family in business.
The paper aims to stimulate discussion about key stakeholders and prompt review of neglect of this key area of business study in the UK.
